BLOOM failed to break so far its 9-month downtrend resistance line and recently on a breakdown from a Rising Wedge pattern, a bearish trend continuation pattern with measured target around 2.40~2.80 area.
Trading Plan
- Avoid for now unless there's a breakout from its downtrend price channel that is supported by huge volume.
- Potential reentry in case there's no breakout would be to wait on another correction or pullback near the downtrend support line.
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